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- Title
2008 KÜRESEL FİNANS KRİZİNİN ŞİRKETLERİN FİNANSAL PERFORMANSLARINA ETKİSİ: BIST 100 ÖRNEĞİ.
- Authors
ÇELİK, İsmail Erkan; YAVUZ, Melih Sefa
- Abstract
With the 2008 Global Financial Crisis, it was experienced that the bubbles in the asset prices in the financial markets of the United States and the new subprime mortgage loans that are continuously exported to the market can be dangerous enough to trigger a crisis on a global scale. As a matter of fact, the crisis affected the economies of many countries that were integrated into the world with globalization. This study aims to analyze the effects of the 2008 Global Financial Crisis on the financial performance of companies listed in the Borsa Istanbul 100 Index in the context of companies' financial reporting behaviors. Global Financial Crisis affected the Turkish economy as well as all the World economies and led to macroeconomic imbalances. It was observed that the crisis affected businesses as well as its macroeconomic effects, causing companies to face financing difficulties and to decrease their financial status and performance. Depending on these developments, it is predicted that the financial reporting behaviors of companies (such as transparency, earnings management) may change during crisis periods. This study aims to analyze and estimate the impact of Global Financial Crisis on financial information regarding the status and performance of companies listed on Borsa Istanbul. For this purpose, the effects of the Global Financial Crisis on these variables was using indicators widely used in the literature, which convey financial information about the company's financial situation, performance, transparency in financial reporting, and earnings management activities. In the empirical analysis, Analysis of Variance (ANOVA) was used to ecaminr whether the status, performance, transparency, and earnings management ratios of the companies listed in the Borsa Istanbul between the years 2003-2015 differed in terms of pre-crisis, crisis period and post-crisis periods. It was determined that the equity ratios of the firms were higher in the pre-crisis period compared to the post-crisis period, and the return on assets ratios were higher in the pre-crisis period than in the crisis period and post-crisis period. In addition, it was concluded that the cash flow rates of the companies were lower in the pre-crisis period and in the post-crisis period, while the cash flow margin and net profit/market value ratios were higher in the pre-crisis period than in the postcrisis period.
- Publication
Akademik Hassasiyetler, 2021, Vol 8, Issue 17, p285
- ISSN
2148-5933
- Publication type
Article